Friday, April 27, 2012

The Coupon Craze

There are new extreme coupon TV reality shows and an explosion of discount limited time coupon programs, such as Groupon. Consumers are jumping on the coupon band wagon. Take advantage of this growing tend by incorporating coupons into your marketing plans to grow your medical retail business.

Direct Mail
A standard printed paper coupon offer. These coupons are included in community area coupon pack mailings such as Val-Pak or Community Newsletters. You can also create your own mailed postcard campaign very inexpensively. Mail these coupon postcards to your patient database or buy names from local marketing agencies. There are many local or online vendors can walk you through this process. We also recommend using the US Postal Service offer where you can do everything from art creative and name selection online and they handle the mailing. These work very to target big offers or special event promotions.

Go Digital
You can put coupon graphics on your website, in emails, and on your social media channels. Alert customers to print their coupon and bring into the store to receive their special offer. This can help drive engagement for your digital marketing channels because customers want see the latest offer. It also can drive more foot traffic to your store since customers want to take advantage of the special discount.

Coupon Creative
Coupons need an offer such as percentage or dollar off discount. Gift with purchase coupons are also very successful. Grab attention with bold colors, prints, and images. Be sure you put your company name, address, website and phone number. Add an expiration date to create a sense of urgency to use the coupon quickly.

Track Success
Add unique tracking codes for each marketing vehicle you place a coupon. For example, use a code such as WEB12 for your website coupon and DM12 for your direct mail piece. Keep a record of all coupons redeemed and track these codes. You will know which marketing channel (website, email, mailer etc...)and which offers performed the best. Then you will know what offer and and what marketing channel to place future advertising.

Are you using coupons for your retail medical business? Please share your tips for success below!